Auction vs Private Sale

In this episode of RWR TV, Craig Bennie discusses the differences between selling at Auction verses a Private Sale. See the transcription below.

Auction vs Private Sale

Hi, and welcome to Ray White Rosebud TV. My name is Craig Bennie, director here at Ray White Rosebud. Today I want to talk to you about the difference between an auction and a private sale when selling a home. The perception sometimes in the marketplace is that an auction is more expensive to sell when it comes to advertising or commission. This is definitely not the case. The advantage with an auction is that it creates a deadline and competition over a four week period.

The sale is an unconditional sale, whereas a private sale often is subject to finance, a building inspection, and a pest inspection. An auction doesn’t create a ceiling on price, whereas a private sale generally has a set price and is negotiated downwards from there.

I really do recommend an auction in a strong property market environment, and especially in the current conditions we have here at the moment. Thanks for listening, and I’ll look forward to seeing you in the next edition.

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